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VOL. XII · NO. 117Established MMXIV · George Town, Grand CaymanAtlantic Edition · $4.50

The Cayman Journal

Finance · Business · Technology · Caribbean & Global Affairs
13F HOLDINGS REPORT

Curbstone Financial Management Corp

Quarter ended Q3 2025 · Filed October 15, 2025 · Accession 0001608057-25-000010

Total Value
$520.1M
Positions
209
Other Managers
0
Confidential Omitted
No
View on SEC.gov

Holdings (209)

#IssuerTicker / CUSIPSharesValue% of Filing
1SPDR Bloomberg Inter Floating78468r2001,201,976$37.1M7.13%
2SPDR S&P Mid Cap 400 ETF (MDY)MDY31,178$18.6M3.57%
3Schwab International Equity ET808524805788,475$18.4M3.53%
4Vanguard S&P 500 ETF (VOO)92290836328,370$17.4M3.34%
5Schwab US Large Cap Growth ETF808524300516,903$16.5M3.17%
6Vanguard Short Ter Corp Bd ETF92206c409204,016$16.3M3.14%
7Apple Inc (AAPL)AAPL62,623$15.9M3.07%
8Schwab US Mid Cap ETF (SCHM)808524508486,619$14.4M2.77%
9Schwab US Dividend Equity ETF808524797454,206$12.4M2.38%
10Microsoft Corp (MSFT)MSFT22,510$11.7M2.24%
11Alphabet Inc Class C (GOOG)GOOG38,035$9.3M1.78%
12Schwab US Small Cap ETF (SCHA)808524607316,502$8.8M1.70%
13Vanguard Intermediate Corp ETF92206c870100,082$8.4M1.62%
14Schwab US Broad Mkt ETF (SCHB)808524102308,184$7.9M1.52%
15Amazon Inc (AMZN)AMZN35,642$7.8M1.50%
16Invesco SP 500 Equal Weight ETIVZ37,733$7.2M1.38%
17Schwab US Large Cap ETF (SCHX)808524201271,480$7.2M1.37%
18JP Morgan Chase & Co (JPM)VYLD21,696$6.8M1.32%
19Barings Corporate Investors (MMCI294,534$6.1M1.18%
20IShares TIPS ETF (TIP)46428717652,304$5.8M1.12%
21Cisco Systems (CSCO)CSCO75,660$5.2M1.00%
22Schwab US TIPS ETF (SCHP)808524870189,670$5.1M0.98%
23TJX Companies (TJX)87254010934,104$4.9M0.95%
24Johnson & Johnson (JNJ)JNJ25,912$4.8M0.92%
25Exxon Mobil Corp (XOM)XOM40,918$4.6M0.89%
26SPDR S&P 500 ETF (SPY)SPY6,767$4.5M0.87%
27RTX Corp (RTX)RTX26,068$4.4M0.84%
28Berkshire Hathaway B (BRKB)BRK-A8,228$4.1M0.80%
29IShares Nat'l Muni Bond ETF (M46428841438,792$4.1M0.79%
30IShares Short Term Nat'l Muni46428815837,910$4.0M0.78%
31iShares Preferred Income Sec E464288687120,763$3.8M0.73%
32VISA Inc CL A (V)V11,136$3.8M0.73%
33KKR & Co (KKR)KKRT29,118$3.8M0.73%
34Vanguard Small Cap Growth ETF92290859512,620$3.8M0.72%
35IShares MSCI EAFE ETF (EFA)46428746539,833$3.7M0.72%
36Nvidia (NVDA)NVDA19,408$3.6M0.70%
37Check Point Software (CHKP)CHKP16,578$3.4M0.66%
38iShares 1-5 Yr Inv Grade Corp46428864663,890$3.4M0.65%
39Procter & Gamble (PG)74271810921,598$3.3M0.64%
40Pepsico (PEP)PEP23,076$3.2M0.62%
41Schwab US Aggregate Bond ETF (808524839133,700$3.1M0.60%
42Abbott Labs (ABT)ABLZF23,224$3.1M0.60%
43Oracle Corp (ORCL)ORCL-PD10,646$3.0M0.58%
44Schwab Emerging Mkts Equity ET80852470686,850$2.9M0.56%
45Eli Lilly (LLY)LLY3,704$2.8M0.54%
46Hyster-Yale Inc (HY)HY73,490$2.7M0.52%
47Home Depot Inc (HD)HD6,530$2.6M0.51%
48iShares CORE S&P 500 ETF (IVV)4642872003,832$2.6M0.49%
49Abbvie Inc (ABBV)ABBV11,067$2.6M0.49%
50Vanguard Extended Market ETF (92290865211,870$2.5M0.48%
51Amplify Cybersecurity ETF (HAC03210866428,350$2.5M0.47%
52Autodesk Inc (ADSK)ADSK7,700$2.4M0.47%
53Nacco Industries Cl A (NC)62957910357,542$2.4M0.47%
54Verisk Analytics Inc Cl A (VRSVRSK9,470$2.4M0.46%
55Sysco Corp (SYY)SYY28,894$2.4M0.46%
56Aerovironment (AVAV)AVAV7,520$2.4M0.46%
57IShares Global 100 ETF (IOO)46428757218,880$2.3M0.44%
58Alphabet Inc Class A (GOOGL)GOOG9,288$2.3M0.43%
59Honeywell International Inc (H43851610610,530$2.2M0.43%
60Chevron Corp (CVX)CVX13,570$2.1M0.41%
61NextEra Energy (NEE)NEE-PW27,548$2.1M0.40%
62JPMorgan BetaBuilders Europe E46641Q19129,680$2.1M0.40%
63Walt Disney Corp (DIS)25468710617,558$2.0M0.39%
64Merck & Co (MRK)MRK23,844$2.0M0.38%
65Phillips 66 (PSX)PSX14,604$2.0M0.38%
66Palantir Technologies Cl A (PLPLTR10,840$2.0M0.38%
67Hamilton Beach Brands Class AHBB136,898$2.0M0.38%
68Invesco Water Resources ETF (PIVZ26,700$1.9M0.37%
69Ulta Beauty Inc (ULTA)ULTA3,380$1.8M0.36%
70Broadcom Inc (AVGO)AVGO5,580$1.8M0.35%
71US Bancorp (USB)USB-PS37,782$1.8M0.35%
72Bank Montreal (BMO)06367110113,834$1.8M0.35%
73Zoetis Inc (ZTS)ZTS11,790$1.7M0.33%
74Coca-Cola (KO)KO25,496$1.7M0.33%
75McDonalds (MCD)MCD5,334$1.6M0.31%
76Walmart Inc (WMT)WMT15,068$1.6M0.30%
77Weyerhauser (WY)WY62,620$1.6M0.30%
78Robo Global Robotics & Automat30150570723,540$1.5M0.30%
79Hologic Inc (HOLX)HOLX22,596$1.5M0.29%
80Bank of America (BAC)06050510429,252$1.5M0.29%
81Intel Corp (INTC)INTC44,563$1.5M0.29%
82iShares S&P 100 ETF (OEF)4642871014,410$1.5M0.28%
83Verizon Communications (VZ)VZ33,150$1.5M0.28%
84Illinois Tool Works (ITW)4523081095,444$1.4M0.27%
85Vanguard FTSE All World ex US92204277519,778$1.4M0.27%
86Automatic Data Processing (ADPADP4,790$1.4M0.27%
87Colgate Palmolive (CL)CL16,890$1.4M0.26%
88Trex Co (TREX)TREX25,620$1.3M0.25%
89Sprouts Farmers Markets (SFM)85208m10211,830$1.3M0.25%
90GE Aerospace (GE)3696043014,262$1.3M0.25%
91Fastenal Co (FAST)FAST26,114$1.3M0.25%
92Pfizer Inc (PFE)PFE49,645$1.3M0.24%
93Carrier Global Corp (CARR)CARR21,098$1.3M0.24%
94Taiwan Semiconductor Manufactu8740391004,498$1.3M0.24%
95Comcast Cl A (CMCSA)CCZ39,804$1.3M0.24%
96SPDR Portfolio S&P400 Mid Cap78464a84721,700$1.2M0.24%
97Smucker JM Co (SJM)83269640511,178$1.2M0.23%
98AFLAC INC (AFL)AFL10,850$1.2M0.23%
99CSG Systems (CSGS)12634910918,620$1.2M0.23%
100Blackstone Inc (BX)BX6,758$1.2M0.22%
101IShares 0-5 Year TIPS ETF (STI46429b74711,050$1.1M0.22%
102Corcept Therapeutics (CORT)CORT13,680$1.1M0.22%
103CVS Health Corp (CVS)CVS14,832$1.1M0.21%
104Texas Instruments Inc (TXN)8825081045,996$1.1M0.21%
105Invesco Bulletshares 2025 CorpIVZ51,616$1.1M0.21%
106Charles Schwab US REIT (SCHH)80852484749,332$1.1M0.20%
107WD 40 CO (WDFC)WDFC5,246$1.0M0.20%
108iShares USA ESG Select (SUSA)4642888027,586$1.0M0.20%
109Bank New York Mellon (BK)0640581009,400$1.0M0.20%
110IBM Corp (IBM)INTR3,608$1.0M0.20%
111Sonoco Products (SON)83549510223,510$1.0M0.19%
112Garmin Ltd (GRMN)GRMN4,086$1.0M0.19%
113SPDR S&P Dividend ETF (SDY)78464a7637,150$1.0M0.19%
114State Street Corp (STT)STT-PG8,550$991,8850.19%
115Starbucks Corp (SBUX)SBUX11,676$987,7900.19%
116Barings Participation InvestorMPV47,966$966,5150.19%
117Vanguard Total Stock Market ET9229087692,934$962,9570.19%
118General Motors Co (GM)37045v10015,764$961,1310.18%
119Salesforce Inc (CRM)CRM3,976$942,3120.18%
120Vanguard Mid Cap ETF (VO)9229086293,170$931,1560.18%
121Unilever PLC (UL)UNLYF15,678$929,3920.18%
122Globalstar Inc (GSAT)GSAT25,200$917,0280.18%
123Target (TGT)TGT10,168$912,0820.18%
124Regions Financial (RF)RF-PF33,600$886,0320.17%
125Vanguard Real Estate ETF (VNQ)9229085539,664$883,4830.17%
126Bristol Myers (BMY)CELG-RI19,494$879,1790.17%
127Danaher Corp (DHR)2358511024,416$875,5160.17%
128Morgan Stanley (MS)MS-PQ5,426$862,5170.17%
1293M CO (MMM)MMM5,518$856,2830.16%
130United Parcel Service Inc (UPSUPS10,144$847,3370.16%
131Lowes Co (LOW)5486611073,342$839,8780.16%
132iShares Muni Bd 2029 (IBMR)46436e16332,270$823,8530.16%
133IShares Int'l Select Div ETF (46428844822,510$822,7400.16%
134GE Vernova Inc (GEV)GEV1,336$821,5060.16%
135Chewy Cl A (CHWY)CHWY19,340$782,3030.15%
136Costco (COST)COST842$779,3800.15%
137Norfolk Southern (NSC)6558441082,564$770,2510.15%
138IShares MSCI Ireland ETF (EIRL46429b50711,390$768,4780.15%
139Stryker Corp (SYK)SYK2,074$766,6960.15%
140Eaton Corporation PLC (ETN)ETN2,004$749,9970.14%
141Appfolio Cl A (APPF)APPF2,550$702,9330.14%
142Invesco S&P500 High Div Low VoIVZ14,000$692,3000.13%
143Trade Desk Inc (TTD)88339j10513,720$672,4170.13%
144BWX Technologies Inc (BWXT)BWXT3,500$645,2950.12%
145AT&T INCT-PC21,962$620,2070.12%
146Tyler Technologies Inc (TYL)TYL1,170$612,0970.12%
147Thermo Fisher Scientific (TMO)TMO1,256$609,1850.12%
148Linde PLC (LIN)LIN1,274$605,1500.12%
149Landstar Corp (LSTR)LSTR4,856$595,1510.11%
150Cincinnati Financial (CINF)1720621013,750$592,8750.11%
151Otis Worldwide (OTIS)OTIS6,388$584,0550.11%
152Caterpillar Inc (CAT)CAT1,222$583,0770.11%
153Vanguard Total World Stock ETF9220427424,180$576,0040.11%
154Amgen Inc (AMGN)AMGN2,004$565,5290.11%
155iShares TR S&P 500 Barra Value4642874082,732$564,1850.11%
156IShares MSCI Canada ETF IV (EW46428650911,080$560,0940.11%
157Novartis ADR (NVS)NVSEF4,344$557,0750.11%
158Emerson Electric Co (EMR)EMR4,232$555,1540.11%
159Corning Inc (GLW)GLW6,760$554,5230.11%
160iShares Muni Bd 2027 (IBMP)46435u28321,660$551,7880.11%
161SPDR Portfolio S&P 500 ETF (SP78464a8547,000$548,3800.11%
162Insulet Corp (PODD)PODD1,764$544,6000.10%
163Advanced Micro Devices (AMD)AMD3,362$544,0140.10%
164Union Pacific Corp (UNP)UNP2,278$538,4510.10%
165iShares TR S&P 500/Barra Growt4642873094,420$533,5820.10%
166Crowdstrike Hldgs Inc Cl A (CRCRWD1,088$533,5330.10%
167iShares Intrm Govt/Credit Bond4642886124,950$531,8130.10%
168Analog Devices (ADI)ADI2,164$531,6950.10%
169Lemaitre Vascular (LMAT)LMAT6,050$529,4350.10%
170Boeing Co (BA)BA-PA2,446$527,9200.10%
171Medtronic PLC (MDT)MDT5,494$523,2490.10%
172Fair Isaac Corp (FICO)FICO348$520,7920.10%
173General Dynamics Corp (GD)GD1,522$519,0020.10%
174Korn Ferry (KFI)KFY7,300$510,8540.10%
175Electronic Arts (EA)EA2,500$504,2500.10%
176Vanguard Muni Bond Tax Exempt92290774610,050$503,2030.10%
177Vanguard High Dividend Yield E9219464063,550$500,3720.10%
178Bloom Energy Cl A (BE)BE5,906$499,4700.10%
179Air Products & Chemicals (APD)AIIR1,810$493,6230.09%
180Hormel Foods Corp (HRL)HRL19,851$491,1180.09%
181AMCOR PLC F (AMCR)AMCCF59,768$488,9020.09%
182iShares Muni Bd 2028 (IBMQ)46435u32518,750$480,7500.09%
183Ingredion (INGR)INGR3,900$476,2290.09%
184Deere & Co (DE)DE1,038$474,6360.09%
185Accenture PLC Ireland Class AACN1,908$470,5130.09%
186TD Synnex (SNX)SNX2,800$458,5000.09%
187Newmont Corp (NEM)NEMCL5,418$456,7920.09%
188T Rowe Price Group (TROW)TROW4,450$456,7480.09%
189SPDR S&P Int'l Dividend ETF (D78463x77210,608$452,9620.09%
190Vericel Corp (VCEL)VCEL14,270$449,0770.09%
191PNC Fin'l Services (PNC)6934751052,228$447,6720.09%
192Powell Industries (POWL)7391281061,450$441,9740.08%
193PPL Corp (PPL)PPLC11,872$441,1640.08%
194Gilead Sciences Inc (GILD)GILD3,940$437,3400.08%
195Qualcom Corp (QCOM)QCOM2,576$428,5430.08%
196General Mills Inc (GIS)3703341048,404$423,7300.08%
197Tesla Inc (TSLA)TSLA952$423,2890.08%
198JPMorgan UltraShort Muni Incom46641q6548,250$421,0800.08%
199Interparfums (IPAR)INTR4,240$417,1310.08%
200SPDR Intermediate Corp Bond ET78464a37512,300$416,8470.08%
201Agilysys (AGYS)AGYS3,930$413,6320.08%
202US Lime & Minerals Inc (USLM)UNTCW3,080$405,1740.08%
203O'Reilly Automotive (ORLY)ORLY3,750$404,2870.08%
204Universal Display (OLED)OLED2,810$403,6000.08%
205iShares Muni Bd 2026 (IBMO)46435u25915,620$400,8090.08%
206Sealsq Corp (LAES)LAES60,000$224,4000.04%
207Scandium Mining (SCYYF)80600l109236,000$13,1690.00%
208Primary Hydrogen Corp (HNATF)74167W10320,000$3,6580.00%
209Airborn Wireless (ABWN)AIIR18,021,394$00.00%